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Litecoin (LTC), which has become one of the popular cryptocurrencies in the market again with its high value increases recorded at the beginning of July, has continued to lose value in recent days despite the rising trend in the crypto market. LTC, which has lost more than 6% in the last week, fell below the $100 support level and started trading at $96 price levels.
Litecoin (LTC) Falls to Critical Levels
The crypto market started to rise again in the morning hours, influenced by the value increases in BTC. The leading cryptocurrency Bitcoin (BTC) started trading at $30,700, recording a value increase of more than 1% within the last 24 hours. Ethereum (ETH) approached $1900 significantly, and the total market value of the crypto ecosystem exceeded $1.19 trillion according to CoinMarketCap (CMC) data.
The volatility in the crypto market remained at low levels compared to the early days of the week. According to the latest data shared by Coinglass, an average of $25 million worth of short and long positions were liquidated in the last 24 hours.
On the other hand, despite the upward trend in the crypto market, Litecoin (LTC) continued to experience downward price movements throughout the day and fell below the critical support level.
Will the Value Loss Continue?
Litecoin (LTC) had recorded high value increases in June and early July, re-entered the top 10 in terms of market value rankings, and became one of the popular cryptocurrencies in the market. However, despite its recent increases, LTC has started to decline again in the last week and gained a downward momentum.
Litecoin (LTC) has lost an average of 6% in the last week and 0.5% in the last 24 hours, falling below the $100 support level and starting to trade at $96 price levels, despite the rising trend in the crypto market. After these recent value increases, LTC has entered the list of the cryptocurrencies with the highest percentage of value loss among the top 100 cryptocurrencies in terms of market value according to CMC data.
